Why apply for grants? What are the advantages and disadvantages? Having worked with a number of companies that have successfully received government grants, we at least can ascertain that government funds exist. One good thing about receiving government funding is that once the government commits to it, the funding is a certainty provided you meet the conditions that the government outlines. Unlike private investors in Taiwan who often back out of investments even after having signed a term sheet, the Taiwanese government money offers certainty to the entrepreneur who is struggling to keep his head above water. However, the one drawback to government funding is that it does take an army of consultants, accountants, grant writers, etc. Many foreign entrepreneurs often complain that they wish the process can be easier. However, the reality of things is that to successfully apply for a grant is quite overwhelming even for Taiwanese. It really is not just a language issue. The work involved is more a reflection of how vast the government bureaucracy is, a remnant of its bygone days. Fair enough. So, where can I find those grants available?We have put together what we believe is a pretty comprehensive, but not complete, list of grant programs currently available in Taiwan. What you will discover is that the grant programs are administered by different government departments who each control their own “pot of gold.” And, from each department’s budget for grants, money is further divided between programs that are national (central government) or at the local (municipal) level.
More info
Information portal Startup Portal (新創圓夢網) by Small and Medium Enterprise Administration, Ministry of Economic Affairs, MOEA (經濟部中小企業處) Website: Chinese, English Equity Funding (Direct Investment) Business Angel Investment Program (創業天使計劃) by National Development Fund of the Executive Yuan (行政院國家發展基金管理會) Website: Chinese, English
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